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An Overview Of Retirement Plans Of Postal Workers

 As an employee of USPS, you dedicate your entire career delivering parcels and envelops to fellow citizens across the country. Considering your commitments to public service, you may be eligible for specific programs provided by the government. When you can no longer work due to aging, you need to have some USPS health benefits after retirement plans. Here is a general summary of this federal government program.

Health insurance

The US Postal Service covers the Federal Employees Health Benefits (FEHB) Program for its employees’ retirement plan. This insurance allows the employees to get benefits when they need medical attention. The retirement plan is flexible, and it provides most of the medical expenses to employees when they are sick or injured. The FEHB is effective and affordable because contributors are not subject to taxes. There are also other perks such as Fee-For-Service, Health Maintenance Organizations (HMOs), and High Deductible & Consumer-Driven Health Plans.

Voluntary retirement

You can quit the job under the Voluntary Early Retirement Authority (VERA), and still eligible for the full benefits from the FEHB. You can retire earlier before the standard retirement ages if you are over 50 years of age with at least 20 years of government employment. You can also be qualified if you have experience of 25 years of government employment even if your age is below 25 years. You must have at least five years of working experience.

When you decide to move ahead with important USPS retirement benefits for employees, look for an agency to help you transfer your enrollment to OPM if you are eligible. You have to enroll yourself in any FEHB Program plan for the five years of service.

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